The United States Department of Justice (DOJ) Archives - Coin Engineer https://coinengineer.net/blog/tag/the-united-states-department-of-justice-doj/ Btc, Coins, Pre-Sale, DeFi, NFT Sat, 28 Sep 2024 10:24:13 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png The United States Department of Justice (DOJ) Archives - Coin Engineer https://coinengineer.net/blog/tag/the-united-states-department-of-justice-doj/ 32 32 Binance Founder Changpeng Zhao Released Early, Bitcoin and BNB Prices Dip Slightly https://coinengineer.net/blog/binance-founder-changpeng-zhao-released-early-bitcoin-and-bnb-prices-dip-slightly/ https://coinengineer.net/blog/binance-founder-changpeng-zhao-released-early-bitcoin-and-bnb-prices-dip-slightly/#respond Sat, 28 Sep 2024 13:30:58 +0000 https://coinengineer.net/blog/?p=30063 On September 27, Binance founder Changpeng Zhao was released from custody after being detained for questioning after the crash; this caused both the Bitcoin price and the BNB price to decrease slightly. While holding 64% of the total supply of BNB, Zhao came under criticism for token centralization after a Forbes article in June 2024

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]]> On September 27, Binance founder Changpeng Zhao was released from custody after being detained for questioning after the crash; this caused both the Bitcoin price and the BNB price to decrease slightly. While holding 64% of the total supply of BNB, Zhao came under criticism for token centralization after a Forbes article in June 2024 valued his personal worth at $61 billion and ranked him as the 24 th richest man in the world.

Although Zhao’s holding 94 million BNB tokens worth roughly $57 billion is still significantly lower from its June 2024 high of $700 per BNB.

The United States Department of Justice (DOJ) accused Zhao and Binance of BSA noncompliance in 2023 along with many other accusations. As the United States regulators anticipated, the reports regarding Zhao and Binance’s legal troubles affect the cryptocurrency trading.

BNB’s price rose by 7% in 24 hours within 21 of November after the report of a $4 billion settlement between binance and the SEC. The whole settlement was equated to $4.3 billion for Binance and $50 million for Zhao. Under the terms of the settlement, the next three years will constitute Binance’s compliance with the findings of the Forensic Risk Alliance.

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